Solar Panels Louisiana Cost

The average cost for an installed residential solar system in louisiana is currently 10 558 after claiming the 26 federal solar tax credit.

Solar panels louisiana cost.

Depending on exactly how much solar power the panels provide you get to keep any savings you make from the energy shining down on your roof. What range of costs should you expect to see in quotes for a solar panel system. The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house. How does system size impact the cost of solar.

Solar panel cost in louisiana. Louisiana s utilities charge one of the lowest rates per kilowatt hour in the country it averages around 8 cents a kilowatt hour compared to california for instance where the average cost of a unit is. This is lower than the average price of residential solar power systems across the united states which is currently 2 60 per watt. Louisiana s average cost of a solar panel installation ranges from 12 368 to 16 732.

Solar panel cost in 2020. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. Solar panel cost data louisiana 2020 updated.

The residential renewable energy tax credit as the irs calls it can be an attractive way to save on the significant cost of installing solar panels or roofing an average sized residential solar. Louisiana is first in the country for energy consumption per capita largely because of the state s industrial sector it is also the state with the least expensive average price of electricity coming in at just under 0 097 per kwh the majority of this energy comes from natural gas. Usually range from 11 144 to 14 696 after solar tax credits and the average price per watt for solar panels ranges from 2 51 to 3 31. We use a 6 return to evaluate all solar investments and louisiana s 4 129 npv on a 5 kw solar system means you d be that much better off investing your money in stocks over 25 years than solar.

As of september 2020 the average solar panel cost in louisiana is 2 96 w given a solar panel system size of 5 kilowatts kw an average solar installation in louisiana ranges in cost from 12 580 to 17 020 with the average gross price for solar in louisiana coming in at 14 800 after accounting for the 26 federal investment tax credit itc and other state and local solar incentives the. Another calculation that potential solar buyers have to consider is the solar payback period. Electricity is just so cheap in louisiana right now a solar system for you home isn t a good investment unless the environmental benefits are worth. On a cost per watt w basis a solar panel installation in louisiana ranges in price from 2 47 to 3 35.

This term tells us as at what time you will recover your. Louisiana is one of the top five natural gas producing states in the country.